THE DAILY ENCRYPT

October 4, 2022

Stan Druckenmiller Says Bitcoin is Better Than Gold During Inflationary Times

Stanley Druckenmiller, a billionaire hedge fund manager, said that in an inflationary bullish market, bitcoin would be more valuable than gold. However, he stated that...
purple and black pyramid wallpaper
Photo by Sandro Katalina

Stanley Druckenmiller, a billionaire hedge fund manager, said that in an inflationary bullish market, bitcoin would be more valuable than gold. However, he stated that in a bearish market, gold would be preferable to bitcoin.

Stan Druckenmiller spoke out about cryptocurrency and bitcoin investing in a Saturday interview with the Sohn Conference Foundation.

Druckenmiller is the chairman and CEO at Duquesne Family Office LLC. Druckenmiller was previously a managing Director at Soros Fund Management, where he was responsible for funds with a peak assets value of $22 trillion. Forbes lists his net worth at $6.8 billion.

He stated, “If you think we will have an irresponsible monetary policy and inflation going forward,” adding that bitcoin is a good investment. However, gold should be avoided if it’s in the bear phase for other assets.

Related Articles:  Improbable Gaming Firm Behind Yuga Lab's Otherside Metaverse Looks to Raise $111 Million

He stressed that he believes it to be true because he has been watching the markets for a long time. Druckenmiller stated, “I’m beginning to believe what I see.”

If we have an inflationary bullmarket, then I will definitely want bitcoin to be my primary investment.

He stated, “If I believed we will have a bear-market — you know, stagflation-type stuff — I would like to own gold.”

The billionaire said, “That’s my assumption going forward from here,” noting that his assumption of 85% is based on what he had observed.

Related Articles:  Polygon Has Built its Success From Making Crypto Mainstream

The famous hedge fund manager, who spoke out about cryptocurrency investing, said that he uses “high-frequency signals” to make his decisions.

It seems that crypto and the Nasdaq have a strong connection.

He said that cryptocurrency’s future was uncertain. “It will surprise me if it isn’t a real force within our economy, say five years from now to ten years from now. And not a major disruptor.”

Druckenmiller said: “So, crypto is interesting.” But, the billionaire noted that Druckenmiller’s 69th birthday will be in a few weeks.

Although I am probably too old to be intellectually competitive with the young people in this area, I am certainly keeping an eye on it.

Elena Argyros

Elena Argyros

Elena is cryptocurrency writer / journalist based in Europe. She has extensive knowledge in the crypto space and is a solidity programmer by trade. Elena has built an extensive resume working with some of the most ground breaking blockchain firms. Being in Europe, Elena has amassed a large network of professionals in the space and states "The technology behind blockchain is going to impact everyone on earth in a good way, once you get to understand it".
Elena Argyros

Elena Argyros

Elena is cryptocurrency writer / journalist based in Europe. She has extensive knowledge in the crypto space and is a solidity programmer by trade. Elena has built an extensive resume working with some of the most ground breaking blockchain firms. Being in Europe, Elena has amassed a large network of professionals in the space and states "The technology behind blockchain is going to impact everyone on earth in a good way, once you get to understand it".

© 2022 The Daily Encrypt. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Latest News
PRESS RELEASES